Question:

Insurance agents are rich ?

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will i make more money working as independent agent with various carriers or work for a state farm or allstate.

I like choosing my hours and money as much as i possibly can

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  1. If you become a top agent it won't matter which route you take you can make 200 - 300K. But most agents never make that much and 80-90% don't last the first year.

    I think you should start out working for a career system like Allstate or State Farm that way you will have the support you need to learn the business.

    Choosing you own hours will not make you rich, 60-80 hour weeks makes you rich. Then after 20 years you can start choosing your hours.


  2. It's not going to matter much.  95% of agents wash out.  When I hear "choose my own hours" that's pretty much a red flag that you're not going to make it  (that, along with "work from home").  

    Here's why:  successful agents have to work 60 - 80 hour workweek the first few YEARS, in order to build their book.  They have to be available when their clients are available - evenings and weekends for personal clients, during and after business hours for business clients.  Clients don't go to you - you have to go to them.  

    Just like every other business - sales is where the real money is.  But, sales is also the hardest thing (well, next to claims adjusting!).

    Bottom line - company doesn't matter so much - the effort that you put into it, that's what's going to make or break you.

  3. I agree with the rest of the broker.

    It all about the sales, you also will risk yourself for chargeback should the customers return the policy. Heavy unpaid chargeback would cause the company to terminate you.

  4. It's been my experience that the owners of the agency do pretty well, the only way the salespeople do well is if they're total workaholics.  Working just a 40 hour week in insurance sales will not make you rich.

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